Realty Insights for Home Buying, Home Selling, and Indy Info

Following is an article from USA Today regarding the subprime mortgage fiasco. I thought it might be interesting to some of my readers. If you have any questions regarding home loans and mortgages, please let me know. I have several great resources and lenders that I could direct you to. By Noelle Knox, USA TODAY Some homeowners with risky "subprime" adjustable-rate mortgages will be able to refinance before they lose their home to foreclosure, with the help of steps President Bush will announce Friday, senior administration officials said Thursday night. An estimated 80,000 homeowners with bruised credit and subprime ARMs they can no longer afford will be able to refinance loans, which the Federal Housing Administration (FHA) would insure. The move marks a historic expansion of the role of the FHA, a Depression-era agency that has traditionally served low- and moderate-income families and first-time buyers, but not delinquent borrowers. Nearly 16% of subprime borrowers are b...

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Here's the latest on the property tax assessments, courtesy of Metropolitan Indianapolis Board of Realtors: Boone County assessments have passed review. Commissioner Cheryl Musgrave said the county had conducted assessments in accordance with state guidelines and will not be ordered to reassess. County officials said they anticipate tax bills being mailed in four to six weeks. Musgrave encouraged taxpayers to appeal their assessments if they feel they may be inaccurately valued, but felt overall that "officials had demonstrated due diligence in conducting the orginal assessments."